1.0 INTRODUCTION 1.1 COMPANY’S BACKGROUND Estee Lauder Company was founded in 1946 by Estee Lauder and her husband Joseph Lauder. It is a manufacturer and marketer of four cosmetic product lines, which include skin care, makeup, fragrances and hair care products in the world. In U.S. prestige cosmetics category, Estee Lauder Companies has a market share of about 46 percent. In 1948, Estee Lauder established their first department store account with Saks Fifth Avenue in New York. During the next 15 years, the products were selectively distributed in other stores in the United States. By 1960, Estee Lauder was an international corporation selling their products in the famous Harrod’s Department Store in London. Within a few shorts, they …show more content…
1.2 VISION “Bringing the best to everyone we touch” 1.3 MISSION STATEMENT Estee Lauder Companies are a family company committed to working together with uncompromising ethics and integrity. They strive to always: * Provide customers with innovative cosmetic products of the highest quality. * Deliver outstanding service by treating each individual as we ourselves would like to be treated. * Create an environment that fosters personal growth and well being. * Build partnerships with our suppliers, retailers and colleagues based on fairness and trust. * Enhance our reputation of image, style and prestige. * Pursue profit, but never at the expense of quality, service or reputation. * Eliminate waste and reduce inefficiencies in order to provide maximum value to our customer. * Be responsible citizens in every community we serve. 1.4 CASE ISSUES 1. Net sales of fragrance products decreased which will eventually affect the overall sales of company. 2. High competition in the cosmetics business. Competitors are diversified with many brand names and a range of products. 2.0 EXTERNAL ASSESSMENT 2.1 External Factor Evaluation (EFE) Matrix for Estee Lauder, Inc Key External Factors | Weight | Rating | Weighted Score | Opportunities | 1) 70 million people across the globe will reach an income level that allows purchasing of cosmetic products in the next 20
SERVICE. We are committed to providing the best experience and enjoy positively interacting with everyone we meet. We genuinely care about every customer we see and do our best to find solutions to any problem that might come our way.
* Honesty and Service - All employees will be honest with each other, customers, supervisors and subordinates.
This is a campaign to stop lack of respect show to service users and to ensure that their dignity is maintained through good and positive service. It encourages challenging of poor service or lack of respect.
Ensuring that service users are treated with dignity and respect Enabling service users to achieve and maintain as much independence as possible Ensuring that service users are treated as individuals Ensuring that service user's rights are promoted and maintained Ensuring that the
Treat our customers with sincerity, kindness, and respect, and think of new ways to impress, delight, and surprise them.
Her and her husband were the company at this time , only giving out a handful of products . In need of a facility to create these products the Lauders converted a Manhattan restaraunt into a factory. She would sell during the day and then cook up all her creams and oils at night. Estee landed her first department store order for her cosmetics. Saks Fifth Avenue bought $800 worth of cosmetics from Estee, which sold out in two days .Another good strategy Estee used was when someone bought one of her products you would get a free gift along with the purchase. The couple opened their first store in New York in 1944. Estees dedication to get her cosmetics in department stored payed off in the 1950s. Her line became a regular feature in stores such as :I. Magnin, Marshall Feild's, Nieman-Marcus and Bonwit Teller. The Lauders invested their entire $50,000 advertising budget in samples to be offered through direct mail, charity giveaways and as gifts with purchases. (Lauder's "free gift with purchase" technique would become a company trademark and later, a standard industry practice.) The result was thousands of new customers. Lauder continued to broaden her product line, introducing (among other things) male toiletries under the Aramis brand name and the first line of fashion-oriented, allergy-tested cosmetics, Clinique. In addition, Lauder set out to conquer the rest of the world, convincing Harrod's of London and Paris' Galleries Lafayette to carry her products. By the mid-1970s, Lauder's products were on the market in more than 70 countries
Many great fashion designers have entered the market of fragrance (Chanel, Lanvin, Givenchy, Yves Saint‐Laurent, Balenciaga …). After that, the speakers of the cosmetic market launched their own perfumes (Yves Saint Laurent, Estee Lauder) and finally, the family brands made their entry on the market (L’Oreal, Procter & Gamble, Unilever…). These
Dignity and respect – respect individual’s need for privacy and dignity in the way that service is provided and the way that information is handled. Treat service users with tolerance and have a non-judgemental attitude
Assume the role of Pierre Pirard, I would execute the supply chain re-engineering for the value it could bring. The turnkey strategy would greatly improve Elizabeth Arden’s performance on supply chain efficiency and effectiveness. The plan should include supplier consolidation to reduce COGS as well as an improvement on working capital. It also requires a re-design of the organization structure.
Estée Lauder has an extremely large presence as the global leader in prestige beauty with products being sold in more than 150 countries. This global success is attributed to their focus on cultural relevance, making sure that their products, signage, marketing etc. appeals to consumers in each local market.
Luxor Cosmetics is a cosmetic company which manufactures variety of lipstick, nail polish, and cosmetic cream
Sephora start operation in 1969. Today, the largest prestige beauty special retailer in the world. Sephora generate 2 billion revenue from U.S, Canada and Sephora.com website. The reputable selling products cosmetics, fragrance, hair and skin care products.
Makeup Art Cosmetics (MAC) was founded in 1985 in Toronto by Frank Toskan and the late Frank Angelo. The business plan concentrated on targeting young, fashionable females by creating cosmetic products which contain unique textures and colours. Using this strategy, the company targeted the ¡°hip¡± celebrities and other cosmetic influencers to gain recognition and market share in the younger consumer market. Since its inception, the company has grown to become a multi-national organization operating in over 180 locations worldwide. In the late 1990¡¯s, MAC was purchased by Estee Lauder, which has led to the alteration of the company¡¯s governance; the culture of the firm changed from that of an entrepreneurial-style with limited rules into
The Estee Lauder Companies Inc. engages in the manufacture, marketing, and sale of skin care, makeup, fragrance, and hair care products worldwide. It offers skin care products, including moisturizers, creams, lotions, cleansers, sun screens, and self-tanning products; and makeup products,
Revlon, Inc. was founded in 1932 by brothers Charles and Joseph Revson and Charles Lachmann with a $300.00 investment and one product which consisted of nail enamel. Revlon now has a 75 year history of providing high quality products to women. Revlon products are sold in more than 100 countries around the world with sales outside of the United States making up 43% of sales in 2006. Their product categories include skin care, cosmetics, personal care fragrance and professional products. Some of the companies most recognized brands are, Revlon, Ultima II, ColorStay, Almay, Charlie, Flex, Mitchum, Jean Nate’ and Color Silk.